Piper Affirms Otonomy (OTIC) at 'Overweight'; Says Key Events Abound
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Piper Jaffray affirms Otonomy (Nasdaq: OTIC) at Overweight with a $32 price target, seeing several key events upcoming for the stock.
The firm commented on Monday:
Launch of OTIC's Otiprio for children undergoing bilateral tympanostomy tube placement (TTP) is underway, and commentary on the company's 2Q earnings call suggests strong progress working with payors and hospital P&T committees to enable access. We expect these efforts to continue throughout the year and position the company to begin inflecting sales around the time of the winter season. There are a number of key data readouts over the next 12-18 months that may meaningfully expand the outlook for OTIC's franchise. With a modest $240M enterprise value and roughly an equivalent cash position, we believe Otiprio for TTP alone can drive upside over the longer term, and assuming success with any new indication, potential additional and substantive upside awaits.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
- Apple (AAPL)-Bull Gene Munster said to be Leaving Piper Jaffray - Bloomberg
- Restoration Hardware (RH) PT Cut to $30 at Cowen
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesPiper Jaffray, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!